Biomea Fusion cut at Barclays following clinical hold

seekingalpha06-07

Barclays has downgraded Biomea Fusion (NASDAQ:BMEA) to equal weight from overweight citing the June 6 announcement that the U.S. FDA placed a full clinical hold on phase 1/2 trials for BMF-219 for ...

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The firm also lowered its price target to $5 from $30 .  Analyst Peter Lawson said the downgrade is being done until there is resolution on the hold, which was caused by potential drug-induced liver toxicity. Despite the setback, he expects initial expansion data from the type 3 trial, COVALENT-111, in the second half of the year as well as phase 2 data in from the open-label portion of the type 1 COVALENT-112 trial by the end of the year as well.","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","BMEA":"Biomea Fusion, Inc.","BK4139":"生物科技","BK4539":"次新股"},"translate_title":"Biomea Fusion在临床暂停后在巴克莱银行被削减","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BMEA":1},"content_text":"Barclays has downgraded Biomea Fusion (NASDAQ:BMEA) to equal weight from overweight citing the June 6 announcement that the U.S. FDA placed a full clinical hold on phase 1/2 trials for BMF-219 for type 1 and type 2 diabetes. The firm also lowered its price target to $5 from $30 (~56% downside based on Thursday's close).  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